Hello, dear readers of the website uspei.com. During the hearing on March 19, SEC stated the judge that the XRP should not be compared with Bitcoin and Etherium.
During the proceedings of the 19th March in the SEC case against Ripple, quite interesting events occurred. The first moment by the senior attorney's securities and stock exchange commission Jorge Tenreiro was told by Sara N Navern that the XRP cannot be compared with Bitcoin and Etherium, which was the refutation of the Abstracts of the Director General of the Director General of Ripple Brad Garlinghaus Matthew Solomon:
"Mr. Solomon wants to emphasize that we have no differences from Bitcoin and Ether. But this is not the case - judging by the statements of the company's lawyers, there is no similarity with Bitcoin, since you are the same organization - the creator of the assets under consideration. "
Tenreiro also doubts the usefulness of the XRP, adding that all Ripple attempts to develop algorithms for the use of digital coins in reality serve as proof that we are talking about securities:
"We are not sure about the existence of this utility in reality, your honor. The meaning is as follows: if even it is, Ripple and the efforts of the defendants to develop the use of XRP - this is what turns the XRP into a valuable paper.
At the same time, during the performance of a lawyer from Ripple Matthew Solomon, the judge N Naborn asked a question, is there any differences from the XRP from Bitcoin and Etheruum, two cryptocurrencies that sec does not relate to securities:
"Maybe it is superfluous, but the XRP has both currency costs and utility and this is the main difference between this digital coin from Bitcoin and Ether. Right?
Any sale of tokens is a violation.
Tenreiro adds that any implementation of a digital coin by managers violates Section 5, so you should familiarize yourself with the entire sales volume. To the question of the judge he added that it is not about every seller of tokens:
In fact, SEC should have the opportunity to fix all the sales. Words must be checked.
The lawyer SEC also added that the Agency had developed evidence that Garlinghaus managed to disguise part of its XRP sales:
We can prove that ... Ripple, Halkinghouse and another company, which they used to implement the XRP, combined their XRP sales with one of the market meters.
Well, let's see what everything will end.
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